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New York & Tri-State  + Midtown New York  + Finance  | 

Nuveen Real Estate Closes Value-Add Multifamily Fund at $410M

Nuveen Real Estate has completed the final close of CASA Partners IX, securing $410 million from two new investors, Bouwinvest and Samsung SRA Asset Management, on behalf of Samsung Life, and three U.S. institutional investors that are longstanding clients of the Nuveen platform. 

CASA Partners IX, a closed-end value-add multifamily strategy, seeks to acquire and reposition well-located rental properties that have either been undercapitalized, overleveraged or mismanaged. Targeted assets will primarily consist of class B, garden-style communities that are valued below replacement cost, appeal to a wide range of household incomes and can achieve post-renovation rents at a significant discount to class A and newer product rents in the market.  

“With a shortage of housing in the U.S., the current market continues to offer attractive opportunities to reposition assets and offer residents improved properties with affordable post-renovation rent,” said Michael Schwab, portfolio manager, housing, Americas at New York City-based Nuveen.   


Inside The Story

Nuveen Real Estate

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing